XRP Dropping Another 30-40% Is Inevitable, Predicts Analyst
Jungle Inc 2.0 believes the SEC’s appeal in their Ripple case could lead to another 30-40% drop for XRP. Conversely, a bullish scenario may see XRP rise above $0.40, added the analyst. At press time, a medium-term descending wedge pattern suggested that XRP could drop in the coming few days. Cryptocurrency analyst Jungle Inc 2.0 believes that the SEC’s appeal in their case against Ripple (XRP) could have one of two effects on the price of the remittance token. In his tweet posted earlier today, the analyst revealed that in a bearish scenario, he believes XRP’s price could drop another 30%-40%. Wrong! The appeal is pertaining to Ripple’s sales on exchanges. — Jungle Inc 2.0 (@jungleincX) September 11, 2023 On the other hand, if things take a bullish turn, the analyst predicts that XRP could remain above $0.40. Although there were many XRP stans in the comments claiming that the appeal from the SEC is not necessarily going to happen, Jungle Inc 2.0 r...